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Updated over 6 years ago on . Most recent reply
HIT WALL - OUT OF MONEY!! help, advice?
Hi
I am having trouble breaking though to the next level (and trying to not become discouraged). I managed to secure 7 loans with my own money and now I am mostly out of money (and options?)
With each loan acquired, the next one is more difficult than the last. Now I am hitting road blocks such as LARGE reserve fund requirements for each prior loan in order to secure a new loan.
I have heard of people getting 20+ loans and using BRRRR, but I don't know how to get over the hurdles to make this happen. Firstly, seems the lenders won't give out more than 10 loans, and reserve fund requirements are massive!
I am going to share with everyone my actual portfolio numbers and kindly seek your advice. I want to achieve financial freedom and I need to get to the next level somehow.
Attached are my actual numbers- All on 30 Yr fixed ~< 5% rates
(all in NorCal market). Please give me your input or ideas.
What would you do if you were starting now right where I am at?
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on the flip side I would be very proud of that portfolio !!! job well done !
- Jay Hinrichs
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